Reverse Mortgage Calculator

Answer a few quick questions to estimate the equity you could access.

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Property

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Income

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Goals

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Contact

Property & Mortgage

Estimated Home Value

$

Please enter your home's estimated value.

Current Mortgage Balance

$

Enter 0 if your home is mortgage-free.

Province Please select your province.

Your Age Please select your age range.

Is this home in a major city (Toronto, Vancouver, Calgary, etc.)?

Yes No / not sure

Employment & Income

Employment Type

Salaried Employee Self-Employed Retired

Household Annual Income Enter the income of the person who would implement the strategy (before taxes). Please select your household income range.

Your Goals

What's your main goal right now?

Generate tax-free retirement income Eliminate monthly mortgage payments Reduce income tax through investing (Smith Manoeuvre) Access equity for renovations or investment Not sure yet — just exploring

Please choose the option that fits best.

Where Should We Send Your Results?

First Name Please enter your first name.

Last Name Please enter your last name.

Phone Please enter a phone number.

Email Address Please enter a valid email address.

Your Personalized Estimate

Based on the information you provided, here's what your home equity could do for you.

Current Home Equity

$0

Estimated home value minus your current mortgage balance.

Equity Potentially Accessible (up to 80% loan-to-value)

$0

A common ceiling for HELOCs and readvanceable mortgages used in Smith Manoeuvre / Cash Damming strategies.

Reverse Mortgage — Potential Tax-Free Funds

$0

Estimated funds available with no monthly payments required, based on your age and home value.

Estimated Annual Tax-Savings Potential

$0

Illustrative estimate if accessible equity were deployed using a tax-deductible investment strategy at your marginal tax rate.

Want to see exactly how this would work for you?

Book a free, no-pressure clarity call with a Wise Equity advisor. We'll walk through your numbers and answer your questions.

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These figures are illustrative estimates only, generated for educational purposes based on the information you provided. They do not constitute a mortgage approval, financial advice, tax advice, or investment advice. Actual amounts depend on lender criteria, appraised value, underwriting, and your individual financial situation. Speak with a licensed Wise Equity advisor before making any financial decisions. Wise Equity Inc. — Lic #M19002342, FSRAO Brokerage #12685.

What this calculator estimates

A reverse mortgage lets Canadian homeowners aged 55 and older convert part of their home’s equity into tax-free cash, without selling the property or making monthly payments. The amount available depends primarily on your age, your home’s value, and your existing mortgage balance — generally, the older you are and the more equity you hold, the more you can access.

This tool gives you a starting estimate based on those factors. Treat the result as a planning figure, not a lender offer — a formal amount requires a property appraisal and lender underwriting.

If you want the strategy explained in full before running your numbers, start with our guide to how reverse mortgages work in Canada.

Why get an independent estimate

Reverse mortgages in Canada are offered by a small number of lenders, and their terms, rates, and maximum amounts differ. Going directly to one lender's calculator only ever shows you that lender's numbers.

As an independent brokerage, Wise Equity can compare offers across lenders on your behalf, so you see how your options stack up rather than a single quote in isolation.

Before you rely on the numbers

Interest accrues on a reverse mortgage over time and the balance is repaid when the home is sold, when you move out permanently, or from your estate. Because no payments are required, the balance grows faster than a conventional mortgage where principal is paid down. This calculator does not assess suitability for your circumstances — that requires a look at your full financial picture, your plans for the home, and what you want to leave to your estate.

Frequently Asked Questions

What's the minimum age for a reverse mortgage?+

You (and any co-owner on title) generally need to be at least 55 years old. There is no maximum age, and older applicants with more home equity typically qualify for a larger amount.

How much can I access?+

Up to roughly 55% of your home's appraised value for most properties, or up to 59% for homes in major metropolitan areas — the exact amount also depends on your age, the property type, and current lender rates. Older homeowners with higher-value homes and little or no existing mortgage generally qualify for more.

Do I have to make monthly payments?+

No. Interest accrues on the balance and is settled when the home is sold, when you permanently move out, or from your estate. You can choose to make voluntary payments to slow the balance's growth, but none are required.

Do I still own my home?+

Yes. You keep the title and legal ownership of your home, and remain responsible for property tax, insurance, and upkeep, the same as with any mortgage.

How accurate is this estimate?+

It is a planning illustration based on the figures you enter, not a lender offer. Your actual available amount depends on a current property appraisal, the specific lender's terms, and their underwriting at the time you apply.

Reverse Mortgage Calculator